Our Top Hard Money Companies for 2024

RCN Capital was founded in 2010 to provide direct hard money financing to real estate investors. As a private lender, RCN underwrites all approvals in house and can close in as few as 10 business days. The company offers a range of short-term and longer-term financing options, including fix & flip, rental and multi-family with loan amounts ranging from $50K - $3M at interest rates as low as 8.25%. RCN provides transparent underwriting guidelines, with loan terms varying based on renovation experience and credit score. RCN does not charge any upfront fees during the pre-approval and approval process; however, borrowers are responsible for any third-party fees, such as appraisals.

Patch of Land is a peer-to-peer crowdfunding marketplace that connects borrowers to accredited and institutional investors. By connecting borrowers and investors directly, Patch of Land’s mission is to make the real estate lending process more efficient, especially for borrowers with real estate projects that are typically rejected by banks or traditional lenders. There is no cost to list a loan on the platform; borrowers only pay for an appraisal, closing costs, origination points and monthly interest. Loans can close in as quickly as 5 business days, but you should expect an average of 10 business days depending on how quickly you respond with documents.

Lima One is an industry leading hard money lender offering a range of lending solutions for fix & flips, rentals or multi-family investments. Funding can be provided within two weeks. Lima One Capital finances up to 90% of purchase and rehab costs or up to 80% of the loan-to-value and 75% of ARV in bridge loans and has rental financing options with interest rates as low as 5.5%

LendingHome is a leading private lender to real estate investors with over 23,000 projects funded, representing over $5 billion in loan value. With its focus on fix & flip loans, Lending Home understands the importance of speed, so their underwriting process is designed to be simple and fast. You can get a rate estimate through their online application in as few as three minutes and close in as few as 5 days. With rates as low as 6.95% and points as low as 1.5%, Lending Home is one of the most competitive lenders in the market. In addition, there is no application fee. You should expect to begin at a higher rate as Lending Home terms become much more attractive with 5 or more exits in the last 24 months.

CoreVest is one of the premier lenders to residential real estate investors, having financed over 60,000 units or over $7 billion in loan originations. CoreVest offers a variety of loan programs that are custom built for real estate investors, including buy and hold, fix & flip and build-to-rent. CoreVest works primarily with larger investors, providing very attractive institutional interest rates for typical loan sizes exceeding $1 million and ranging up to $100 million. However, if you are a newer investor with limited experience, you may be able to get more attractive rates from one of the other lenders on our list.

Temple View Capital is a Bethesda, Maryland based hard money lender offering fix and flip loans, rental loans and cash-out loans. The loan programs were designed by investors, for investors, requiring no income, tax returns, assets, or reserves. Temple View lends against a range of property types, including single-family, 2-4 units, condos and townhomes. Flip and rental loans range from $75k to $1M and cover up to 75% ARV with rates starting at 9.00% (flip) and 5.00% (rental). Temple View also offers advanced rehab draws, which is unique compared to most lenders which reimburse after the work is done.

Backed by The Blackstone Group, Finance of America is a diversified, national real estate lender, financing over 50,000 units per year, representing over $16 Billion in transaction value. Finance of America operates branches nationally, with over 1,300 local advisors. In 2017, Finance of America launched Finance of America Commercial as a new business unit designed to serve real estate investors. The company’s commercial and mortgage loans offer a large variety of financing solutions to real estate investors, from traditional FHA or fixed rate loans to Fix & Flip and FHA 203(k) rehab loans. Finance of America Commercial’s Fix & Flip loans are best suited for experienced investors and typically require prior investing experience, recommending a track record of at least 3 properties.

Sherman Bridge Lending has been offering hard money loans to home flippers and landlords since 2009, specializing in distressed single family residential real estate. Sherman Bridge loans are designed to finance everything from cosmetic remodels to complete teardowns. Given their extensive experience in fix & flip loans, Sherman Bridge can underwrite and close loans in as few as 5 business days. You can get started with a 30-second pre-qualification and a 30-minute pre-approval process. Sherman Bridge offers three loan programs that vary from 70-80% of purchase price. Notably, Sherman Bridge doesn’t have a minimum down payment required, so it’s possible to receive a rehab loan with no money down.

Delancey Street Lending is a diversified direct lender for non-traditional financing, including small business loans, merchant cash advance and hard money lending. Delancey Street provides hard money loans to investors who have a verifiable track record, with funding available up to 80% ARV. Funding can be provided in as little as two days assuming the appropriate information and documentation is available. Delancey will make loans on almost any type of property, including raw land. Fix and Flip interest rates are 9-10% on average with no application fee and low closing fees. Delancey provides loans nationwide but specializes in California markets.

DoHardMoney is a hard money loan and private money lender based in West Jordan, Utah. The Company is known for providing 100% hard-money financing, meaning loans covering 100% of purchase price, rehab and other costs and fees. The company focuses on fix-and-flip hard money loans with loan amounts from $70,000 - $350,000 and financing up to 70% ARV. Rates begin at 7.99% and 5.5 points.